Crawshaw expansion fuels growth
The Crawshaw Group has reported a 51% growth in turnover for the year to 31 January 2016, from £24.6m the previous year to £37.1m.
Like-for-like sales grew 1.8% while the adjusted EBITDA was up 45% to £2.6m from £1.8m 12 months ago.
The chain’s expansion programme meant it posted a loss before tax of £0.3m compared to a profit before tax of £1.2m in 2015.
Strategy highlights for Crawshaws included a new management team, investment in rebranding and standardisation and 17 new stores added.
It also reported record levels of premium-quality homemade produce sold. The group plans to add 15 stores this year, including further expansion into its Yorkshire/North West heartland, as well as entering the Midlands/Birmingham area.
Noel Collett, chief executive officer, said: “We are pleased to report another set of solid results for the business and are delighted with the significant progress we’ve made during a very transformative year. We have proved that customers love our compelling retail concept, delivering quality fresh meat and food-to-go at exceptional prices. With strong foundations now in place, we are well positioned to build on our current position and establish Crawshaws as a national brand.”
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